Take-private turbulence holds levfin in the balance

Private equity 230x150
By Owen Sanderson
16 Jul 2019

The leveraged loan market in Europe is relying on several high profile take-private trades to rescue volumes and fees for 2019, and give the squeezed CLO market much needed supply. But these deals are vulnerable, and can easily fall apart, as sponsors must navigate an obstacle course of trade buyers, competition authorities, and recalcitrant shareholders.

Many of the largest leveraged financings prepared in the European leveraged finance market this year are take-privates.

According to Bain & Co’s global private equity report 2019, global P2P deals last year reached their highest value since 2006-2007. But the consultancy expects more this year.

“Given that large ...

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